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Swiss Stocks Decline, Part Of General European Slide

The Swiss stock market is losing ground in mid-day trading on Tuesday, part of a general decline among the European indicies.

Following the recent rise in stock prices, traders have been in a profit-taking mood over the last couple days. This afternoon, some housing data out of the U.S. will be in focus.

The benchmark SMI is lower by 0.88 percent to 6,289.16. The index had reached a recent peak at 6,356 last Friday.

The SLI has fallen 0.89 percent to 965.28. The SPI has retreated 0.61 percent to 5,769.67.

Financial stocks are helping to lead the decline. This includes a 1.7 percent decline in Julius Baer and a 1.3 percent drop in UBS. There is also weakness among cyclical stocks, like Nobel Biocare and Logitech.

by RTT Staff Writer

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